As I generate market data to see what is happening here in my local market, it is easy to get off task. Focus on what is difficult in the world of real estate, and not what is better.
NAR came out with an interactive market research tool. Now, the data currently on it is for the second quarter of this year, so it’s “old” data. What is interesting about it, is looking at how other parts of the country are in comparison to Salem Oregon.
When you really start to look at some of those other drops, our market, while still having it’s own issues, pales in comparison to some other markets.
Check out the link and play around with the cities. I found it interesting…
(c) Copyright, 2008. Melina Tomson, All Rights Reserved (ie…be nice and create your own content. Don’t steal mine…)
Salem so it’s boom after California boomed. Not by as much obviously. Does this mean we will deflate after them?
We already have started to deflate. CA started their deflation in 2006 and Salem started in fall of 2007. Our deflation is occuring at about 5% where theirs is a much larger drop. The bigger the bubble the more air that has to escape before it springs back to normal. We have less air to come out of our market.